Healthcare cycle management refers to the software that enables organizations to be paid for providing service. It is present from pre-registering a patient to all way through payment collection and provides healthcare facilities which can track patient care episodes.RCM management helps to manage time and work efficiently.This growth is primarily driven by Process Improvement in Healthcare Organization and Government Initiatives to Increase the Adoption of RCM Solutions.
Globally, a noticeable market trend is evident Integration of Advanced Technologies in Healthcare RCM Software
. Major Players, such as General Electric Company (United States), Epic Systems (United States), Cerner Corporation (United States), Gebbs Healthcare Solutions, McKesson Corporation (United States), Quest Diagnostics (United States), Allscripts (United States) and Siemens Healthcare (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
As per the Centers for Medicare & Medicaid Services (CDC) Actuary Releases 2017, the private health insurance spending is projected to average 4.7% over 2017-2026. Additionally, As per World Bank Data 2015, the estimated healthcare expenditure in the U.S. was 16.9% of GDP that is comparatively higher than other countries
- Process Improvement in Healthcare Organization
- Government Initiatives to Increase the Adoption of RCM Solutions
- Integration of Advanced Technologies in Healthcare RCM Software
- Strategic Partnership and Acquisition
- High Pricing and Costly Maintenance of Healthcare Revenue Cycle Management Solution
- Lack of Skilled IT Professionals
Rising Demand For Healthcare Revenue Cycle Management in Emerging Countries and Growing Consolidation Among Vendors For End To End Solution
Risk Associated With Data Security and Privacy and Integration of RCM Solutions Within Healthcare Organizations
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